This one gave us a bit of a headache but in the end the solution is simple.
We needed to have two shops with the same products but on different urls. Here is step by step what we have done:
1. Create original shop with all products set up etc.
2. Export the template for the site (do not include content - CataLook does not like it, if you need to export static pages or forms do it separatly).
3. Create subportal for new store using the template created in previous step.
4. Export products via excel from the old portal and import into new
5. Go through the site and set all the settings as on the old portal
you can now use different payment gateways, shipping methods, prices, language etc
Two stores running on the same portal and using the same CataLook installation 